Circle Oil, together with its partner Office National des Hydrocarbures et des Mines ('ONHYM'), has signed a Memorandum of Understanding ('MOU') with a potential new gas customer in Morocco, SBS Porcher ('Porcher'). The MOU forms the basis for Circle to sell the gas discovered during the successful 2014/15 Sebou drilling campaign and all parties expect to sign binding documentation in the coming months.

As part of this arrangement, a new pipeline extension would be constructed linking the existing Circle-owned pipeline in the northern Kenitra region to the Porcher factory in the central Kenitra area.

Tags: Circle Oil plc